The Financial Services Council (FSC) congratulates the Government for acting on its commitment to pay the Super Guarantee on Government paid parental leave from 1 July 2025, with legislation being introduced to Parliament today.
CEO of the FSC Blake Briggs said: "The Government's paid parental leave scheme would increase the financial security and wellbeing of Australian parents, especially for women, who head into retirement with around 30 per cent less superannuation savings.
"This will make a significant difference for primary carers who may not otherwise receive superannuation contributions when they take leave from the workforce to raise a family.
"It plays a role in bridging the retirement savings gender gap and improving gender equality in Australia."
The FSC has previously called for paying superannuation contributions on the Government paid parental leave scheme, with this being included in the FSC's 2022 policy priorities document prior to the last election.
